In today’s edition of The Daily, we cover a reflection on the passing year by the cryptocurrency mining technology giant Bitmain, a mobile app released by social network Memo and new turnover figures from a Bitcoin ATM network in Australia.

Bitmain Reflects on 2018

Bitmain, the Beijing-headquartered bitcoin mining technology giant, has been the topic of many discussions recently relating to its IPO application process, downsizing and more. A lengthy new blog post the company published today touches on these subjects and highlights some of the milestones the company has achieved in 2018. These achievements include the development of a 7nm ASIC chip for SHA-256 mining, launching hardware for powering artificial intelligence applications, investing in Circle and funding open-source projects. Read more...

Last year the Bitcoin Cash (BCH) community welcomed a BCH-based social media network called Memo.cash. Since then Memo has gathered a lot of traction with hundreds of profiles and thousands of onchain updates and conversations posted to the BCH chain.

Just recently we reported about the on-chain social media network called Memo, an application that allows people to publish censorship resistant ‘memos’ on the Bitcoin Cash (BCH) blockchain. So far users have sent thousands of on-chain memos, and the platform’s developers have added new features like ‘replies’ which unleashed over 3,000 Memo transactions in 24 hours after adding the reply component.

According to some Bitcoin bears, we’re a long way from the floor — but that hasn’t stopped the world’s ultra-rich from buying the dip, including George Soros and the Rockefeller family.

‘Essentially Worthless’

Recent news has suggested some big-time institutional investors are taking an interest in Bitcoin and other cryptocurrencies ignoring the Bitcoin bears.

According to Capital Economics, a London-based investment research firm, the world’s largest cryptocurrency by market capitalization is set to get slaughtered in the coming months, regardless of its correlation to the S&P 500 index.